Walla Walla FHA Loans
WALLA WALLA, WA
FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.
FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.
While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.
For additional requirements as defined by the FHA, click here.
Walla Walla's 53 lenders originated 235 FHA loans during 2021. The total origination value was $58,975,000, with an average FHA loan value of $250,957.
Walla Walla FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Walla Walla
averaged
5.1%
for the week of 2022-05-13, compared to the national average (all FHA variants) of
5.361% for the same period.
The average rate for the prior week (2022-05-06) was
5.14% and
one month ago for the week of 2022-04-08, the
average rate was 4.7%.
The average rate one year ago was 3.31%.
For refis of the same type during the week of 2022-05-13, the average rate
was 4.85%.
Walla Walla FHA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Walla Walla level.
The top Walla Walla FHA lender as defined by loan originations is PREMIER MORTGAGE RESOURCES, L.L.C., with
30 FHA loans originated. Their average total fees are
$8,232, which is $553
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Walla Walla FHA lenders (with over 10 loans originated) are
PREMIER MORTGAGE RESOURCES, L.L.C. ($8,232), QUICKEN LOANS, LLC ($8,784), AMERICAN FINANCIAL NETWORK, INC. ($10,181), .
The lowest rate Walla Walla FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (2.61%), PREMIER MORTGAGE RESOURCES, L.L.C. (3.13%), AMERICAN FINANCIAL NETWORK, INC. (3.16%), .
Walla Walla FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
WALLA WALLA, WA | WALLA WALLA | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Walla Walla (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $267,500 (10.8%) | $332,885 (11.0%) | 0.00 | 165 |
2018-02-01 | $289,000 (24.4%) | $349,929 (17.7%) | 0.00 | 168 |
2018-03-01 | $304,941 (31.2%) | $353,713 (15.4%) | 0.00 | 167 |
2018-04-01 | $302,500 (28.8%) | $370,328 (17.8%) | 0.00 | 174 |
2018-05-01 | $325,000 (30.1%) | $387,149 (17.2%) | 0.00 | 162 |
2018-06-01 | $325,000 (30.0%) | $386,137 (17.2%) | 0.00 | 160 |
2018-07-01 | $324,950 (27.4%) | $397,140 (19.8%) | 0.00 | 166 |
2018-08-01 | $325,000 (30.0%) | $392,907 (15.1%) | 0.00 | 191 |
2018-09-01 | $329,000 (22.3%) | $394,187 (15.8%) | 0.00 | 198 |
2018-10-01 | $325,000 (20.2%) | $376,465 (9.8%) | 0.00 | 203 |
2018-11-01 | $325,000 (27.8%) | $367,009 (9.0%) | 0.00 | 203 |
2018-12-01 | $325,000 (30.5%) | $371,187 (11.7%) | 0.00 | 182 |
2019-01-01 | $320,000 (19.6%) | $360,260 (8.2%) | 0.00 | 182 |
2019-02-01 | $325,000 (12.5%) | $372,490 (6.5%) | 0.00 | 164 |
2019-03-01 | $329,929 (8.2%) | $379,538 (7.3%) | 0.00 | 158 |
2019-04-01 | $333,704 (10.3%) | $382,248 (3.2%) | 0.00 | 160 |
2019-05-01 | $359,825 (10.7%) | $412,765 (6.6%) | 0.00 | 181 |
2019-06-01 | $369,500 (13.7%) | $406,839 (5.4%) | 0.00 | 184 |
2019-07-01 | $379,950 (16.9%) | $431,496 (8.7%) | 0.00 | 208 |
2019-08-01 | $360,143 (10.8%) | $414,303 (5.5%) | 0.00 | 210 |
2019-09-01 | $335,000 (1.8%) | $397,891 (0.9%) | 0.00 | 207 |
2019-10-01 | $347,000 (6.8%) | $395,335 (5.0%) | 0.00 | 207 |
2019-11-01 | $359,500 (10.6%) | $401,489 (9.4%) | 0.00 | 195 |
2019-12-01 | $389,990 (20.0%) | $427,427 (15.2%) | 0.00 | 150 |
2020-01-01 | $382,475 (19.5%) | $419,317 (16.4%) | 0.00 | 128 |
2020-02-01 | $339,000 (4.3%) | $396,745 (6.5%) | 0.00 | 134 |
2020-03-01 | $382,450 (15.9%) | $406,630 (7.1%) | 0.00 | 122 |
2020-04-01 | $365,000 (9.4%) | $394,778 (3.3%) | 0.00 | 127 |
2020-05-01 | $369,000 (2.6%) | $401,775 (-2.7%) | 0.00 | 137 |
2020-06-01 | $384,950 (4.2%) | $412,193 (1.3%) | 0.00 | 121 |
2020-07-01 | $409,450 (7.8%) | $475,526 (10.2%) | 0.00 | 119 |
2020-08-01 | $420,000 (16.6%) | $485,861 (17.3%) | 0.00 | 114 |
2020-09-01 | $374,000 (11.6%) | $484,716 (21.8%) | 0.00 | 105 |
2020-10-01 | $359,000 (3.5%) | $470,189 (18.9%) | 0.00 | 82 |
2020-11-01 | $399,900 (11.2%) | $580,163 (44.5%) | 0.00 | 68 |
2020-12-01 | $404,950 (3.8%) | $573,802 (34.3%) | 0.00 | 61 |
2021-01-01 | $425,000 (11.1%) | $538,878 (28.5%) | 0.00 | 50 |
2021-02-01 | $449,445 (32.6%) | $606,874 (53.0%) | 0.00 | 47 |
2021-03-01 | $434,000 (13.5%) | $586,582 (44.3%) | 0.00 | 43 |
2021-04-01 | $397,450 (8.9%) | $575,659 (45.8%) | 0.00 | 52 |
2021-05-01 | $425,000 (15.2%) | $646,100 (60.8%) | 0.00 | 15 |
2021-06-01 | $499,500 (29.8%) | $619,001 (50.2%) | 0.00 | 24 |
2021-07-01 | $449,500 (9.8%) | $614,816 (29.3%) | 0.00 | 38 |
2021-08-01 | $437,000 (4.1%) | $628,655 (29.4%) | 0.00 | 41 |
2021-09-01 | $454,000 (21.4%) | $625,318 (29.0%) | 0.00 | 53 |
2021-10-01 | $450,000 (25.4%) | $668,248 (42.1%) | 0.00 | 70 |
2021-11-01 | $448,498 (12.2%) | $699,312 (20.5%) | 0.00 | 56 |
2021-12-01 | $493,750 (21.9%) | $737,858 (28.6%) | 0.00 | 50 |
2022-01-01 | $509,000 (19.8%) | $785,760 (45.8%) | 0.00 | 46 |
2022-02-01 | $476,000 (5.9%) | $736,797 (21.4%) | 0.00 | 46 |
2022-03-01 | $549,450 (26.6%) | $753,279 (28.4%) | 0.00 | 40 |
2022-04-01 | $529,000 (33.1%) | $709,996 (23.3%) | 0.00 | 50 |
Walla Walla's median listing price comes in at 0% of the national average.
Walla Walla's average listing price for 2022-04-01 was $709,996, a difference of $134,337 (23.3%) versus the prior year and $-43,283 versus the prior month.
For the 2022-04-01 period, Walla Walla had 50 MLS listings, a difference of 10 listings (25%) versus the prior month and -2 listings (-4%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Walla Walla (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,023 sqft |
2018-02-01 | 0 days | 2,038 sqft |
2018-03-01 | 0 days | 2,092 sqft |
2018-04-01 | 0 days | 2,142 sqft |
2018-05-01 | 0 days | 2,205 sqft |
2018-06-01 | 0 days | 2,136 sqft |
2018-07-01 | 0 days | 2,136 sqft |
2018-08-01 | 0 days | 2,153 sqft |
2018-09-01 | 0 days | 2,161 sqft |
2018-10-01 | 0 days | 2,112 sqft |
2018-11-01 | 0 days | 2,116 sqft |
2018-12-01 | 0 days | 2,185 sqft |
2019-01-01 | 0 days | 2,124 sqft |
2019-02-01 | 0 days | 2,185 sqft |
2019-03-01 | 0 days | 2,264 sqft |
2019-04-01 | 0 days | 2,331 sqft |
2019-05-01 | 0 days | 2,368 sqft |
2019-06-01 | 0 days | 2,368 sqft |
2019-07-01 | 0 days | 2,457 sqft |
2019-08-01 | 0 days | 2,409 sqft |
2019-09-01 | 0 days | 2,326 sqft |
2019-10-01 | 0 days | 2,252 sqft |
2019-11-01 | 0 days | 2,340 sqft |
2019-12-01 | 0 days | 2,355 sqft |
2020-01-01 | 0 days | 2,348 sqft |
2020-02-01 | 0 days | 2,320 sqft |
2020-03-01 | 0 days | 2,340 sqft |
2020-04-01 | 0 days | 2,260 sqft |
2020-05-01 | 0 days | 2,242 sqft |
2020-06-01 | 0 days | 2,258 sqft |
2020-07-01 | 0 days | 2,387 sqft |
2020-08-01 | 0 days | 2,320 sqft |
2020-09-01 | 0 days | 2,320 sqft |
2020-10-01 | 0 days | 2,081 sqft |
2020-11-01 | 0 days | 2,145 sqft |
2020-12-01 | 0 days | 2,178 sqft |
2021-01-01 | 0 days | 2,240 sqft |
2021-02-01 | 0 days | 2,443 sqft |
2021-03-01 | 0 days | 2,417 sqft |
2021-04-01 | 0 days | 2,356 sqft |
2021-05-01 | 0 days | 2,520 sqft |
2021-06-01 | 0 days | 2,501 sqft |
2021-07-01 | 0 days | 2,263 sqft |
2021-08-01 | 0 days | 2,122 sqft |
2021-09-01 | 0 days | 2,172 sqft |
2021-10-01 | 0 days | 2,184 sqft |
2021-11-01 | 0 days | 2,268 sqft |
2021-12-01 | 0 days | 2,327 sqft |
2022-01-01 | 0 days | 2,268 sqft |
2022-02-01 | 0 days | 2,277 sqft |
2022-03-01 | 0 days | 2,311 sqft |
2022-04-01 | 0 days | 2,200 sqft |
Walla Walla's median square footage for active listings during the 2022-04-01 period was 2,200 sqft. One year prior, the average listing was 2,356 sqft.